Swiss National Bank lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,491,208 shares of the retailer’s stock after selling 28,300 shares during the quarter. Swiss National Bank’s holdings in Costco Wholesale were worth $394,067,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Comerica Bank raised its holdings in Costco Wholesale by 0.6% in the 2nd quarter. Comerica Bank now owns 112,676 shares of the retailer’s stock valued at $31,726,000 after buying an additional 635 shares during the last quarter. Next Capital Management LLC raised its holdings in Costco Wholesale by 2,740.0% in the 2nd quarter. Next Capital Management LLC now owns 142 shares of the retailer’s stock valued at $38,000 after buying an additional 137 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Costco Wholesale by 12.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 198,150 shares of the retailer’s stock worth $52,363,000 after purchasing an additional 22,204 shares during the last quarter. Northwest Capital Management Inc bought a new position in Costco Wholesale during the 2nd quarter worth approximately $201,000. Finally, Boys Arnold & Co. Inc. raised its holdings in Costco Wholesale by 1.1% during the 2nd quarter. Boys Arnold & Co. Inc. now owns 14,092 shares of the retailer’s stock worth $3,724,000 after purchasing an additional 151 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.
COST has been the subject of several analyst reports. Robert W. Baird raised their price target on shares of Costco Wholesale from $270.00 to $290.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Nomura raised their price target on shares of Costco Wholesale from $235.00 to $256.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Evercore ISI restated a “buy” rating on shares of Costco Wholesale in a report on Sunday, August 11th. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 price target for the company in a report on Tuesday, June 11th. Finally, Goldman Sachs Group initiated coverage on shares of Costco Wholesale in a report on Thursday, July 11th. They set a “buy” rating and a $290.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $266.04.
Shares of COST stock traded up $2.92 during trading hours on Friday, hitting $274.44. 39,844 shares of the company were exchanged, compared to its average volume of 1,804,688. The firm has a market cap of $121.14 billion, a P/E ratio of 40.20, a P/E/G ratio of 3.87 and a beta of 0.95. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $284.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98. The company has a 50 day simple moving average of $274.20 and a two-hundred day simple moving average of $247.42.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.83 by $0.06. The company had revenue of $34.74 billion during the quarter, compared to the consensus estimate of $34.72 billion. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 EPS. As a group, sell-side analysts expect that Costco Wholesale Co. will post 8.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Thursday, August 29th. Costco Wholesale’s dividend payout ratio (DPR) is 38.07%.
Costco Wholesale announced that its Board of Directors has approved a stock repurchase program on Friday, April 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the retailer to buy up to 3.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Costco Wholesale Company Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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